Snowflake (NYSE:SNOW) Lifted to “Hold” at StockNews.com

Snowflake (NYSE:SNOW) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. reduced their price target on Snowflake from $200.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. Morgan Stanley restated an “equal weight” rating and set a $175.00 price target (down previously from $230.00) on shares of Snowflake in a research note on Thursday, February 29th. Macquarie raised shares of Snowflake from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $182.00 to $205.00 in a research report on Thursday, February 29th. HSBC reissued a “reduce” rating on shares of Snowflake in a research report on Thursday, February 29th. Finally, Wedbush lifted their price objective on shares of Snowflake from $144.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $202.00.

Snowflake Price Performance

Shares of NYSE SNOW opened at $157.47 on Tuesday. Snowflake has a 1-year low of $138.40 and a 1-year high of $237.72. The business has a fifty day moving average price of $168.46 and a 200 day moving average price of $179.14. The stock has a market capitalization of $52.63 billion, a P/E ratio of -61.75 and a beta of 0.91.

Snowflake (NYSE:SNOW) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.05. The business had revenue of $774.70 million during the quarter, compared to analyst estimates of $759.86 million. Snowflake had a negative net margin of 29.79% and a negative return on equity of 13.79%. As a group, equities research analysts anticipate that Snowflake will post -1.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Emily Ho sold 1,500 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $156.98, for a total value of $235,470.00. Following the completion of the transaction, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Emily Ho sold 1,500 shares of Snowflake stock in a transaction on Monday, March 18th. The shares were sold at an average price of $156.98, for a total value of $235,470.00. Following the sale, the chief accounting officer now owns 28,393 shares of the company’s stock, valued at approximately $4,457,133.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank Slootman sold 86,078 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $225.13, for a total transaction of $19,378,740.14. Following the transaction, the chief executive officer now owns 180,143 shares of the company’s stock, valued at $40,555,593.59. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,209 shares of company stock worth $34,291,592. Company insiders own 8.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Accent Capital Management LLC acquired a new position in shares of Snowflake during the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC increased its position in shares of Snowflake by 193.9% during the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Riverview Trust Co acquired a new position in Snowflake in the 1st quarter valued at $31,000. Provence Wealth Management Group acquired a new position in Snowflake in the 3rd quarter valued at $30,000. Finally, M&R Capital Management Inc. boosted its stake in Snowflake by 100.0% during the 4th quarter. M&R Capital Management Inc. now owns 200 shares of the company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. 65.10% of the stock is owned by hedge funds and other institutional investors.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.